how do i get a home loan with bad credit?
i have bad credit,good job no checking or savings account
Public Comments
- by paying extra high interest rate
- you have someone else take out a co-loan. Then if you cant pay they know that, that person with good credit will pay it.
- Its going to be tough but its possible, you can try this company in South Caolina, Transland Finance. The number is1-843-662-3624
- You will need to open a bank account first. Then depending on your credit you may be able to find a loan if you put between 10-20% down. You may want to go to experian.com and pull your credit report yourself. If you have collections or chargeoffs, you should take care of those right away. Most lenders will make you pay them before the loan closes anyways. But if you pay them off and wait 2 months to get a loan, your credit score will most likely go up a little. Every poing helps. So start fixing your credit and open a bank account. You will be on your way. If you someone else who can take the loan out for you. You can get addedto the title as soon as the loan closes. Then pay the mortgage with your checking account and save copies of your bank statements to show that you have been paying the mortgage. In 12 months you can refinance the loan since you are on title and have been making the payments in your own name and take the other person off title.
- Credit repair. Make life much easier on yourself. Repair your credit...it's free and legal:
- Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation. Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership. You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off: http://www.axalda.info/bad-credit-mortgage.html
- If you plan to pay back the money , you can ask for a loan at Prosper. More information at http://www.acreditlibrary.com/prosper.html . You can also try your luck at online charities, people may send donations. More information at http://www.laodn.org/
* Some answers may have been provided by Yahoo! Answers.